BioJet Receives $1.2 Billion Funding Facility
RIDGETOWN, Barbados, Feb. 7, 2011
— BioJet International Ltd. (www.biojetcorp.com) announced today that it has received a US $1.2 Billion funding facility from Cayman based Equity Partners Fund SPC. The funding structure is a 3 year facility; further terms of the funding were not disclosed.
BioJet is a leading international supply chain integrator in renewable (bio) jet fuel and related co-products which include green diesel, etc. for the aviation and transportation sectors.
The funding agreement is designed to allow BioJet a significant source of capital for its supply chain capital projects program including feedstock and refining projects, as well as investment and strategic acquisitions.
Chairman Mitch Hawkins said, “This funding agreement with Equity Partners will form the cornerstone of BioJet capital projects and accretive EBIDTA positive acquisitions over the next five years. It enables a clear path to the expansion of our Camelina, Jatropha, and Algae feedstock projects as well as our Avia renewable jet refining projects in Latin America, Asia, and Europe. We will also be seeking acquisitions of listed companies which can add value geographically and strategically.”
BioJet operations throughout the entire biofuel value chain engage feedstock generation, technology, refining, logistics, sustainability certification, distribution, and eventual end use by the aviation sector user. BioJet is also the first Alternative Fuels Strategic Partner of the International Air Transport Association.